What if we entertain the idea that central banks collapse; what would be better in your view, fixed-supply Bitcoin or Private Central Banks issuing Stablecoins which compete against one another?
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Aren't Central Banks already private entities?
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some are. some aren’t. In any case, blockchains can allow anyone anywhere to start one
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Then don't we return to the original question of what currency or coins are stable in relation to?
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I simply doubt people will want state controlled fiat in a world of competing, unseizable, unstoppable, open-source, uninflatablr cryptocurrencies
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We live in this world you doubt can exist.
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We do now but cryptpcurrencies are only recent inventions. Your thesis is backwards-facing not forward-looking
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Talking about central banks "collapsing" is not something I'm willing to entertain either. It's not how banks work. Its how bitcoiners that don't understand bitcoin and banks talk about banks.
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Replying to @SoakerPatoshi @MustStopMurad and
Maybe. But banks collapsing "en masse" is surely a possible, even likely, scenario.
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Replying to @VictorErem @MustStopMurad and
It's only likely and plausible if you don't understand how banks work. So I would like one of you claiming this scenario to declare when you understand how central banking works?
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The financial system can function without Central Banks. Check Selgin’s writing on privately-issued currencies in Canada and Scotland in the past
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Replying to @MustStopMurad @VictorErem and
You are telling me to read Selgin's work now?
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